About The Area
Over the last years, Philadelphia become to most attractive Real-Estate market in the north east. Once again an inspiring renaissance with cultural and entertainment presence secondary only to NYC. The delicate dynamic between history and modern lifestyle at an attractive cost-of-living is appealing to a large market of middle to high class communities that are looking to live in a true metropolitan. With virtually no available place to grow and the highest prices in NYC, Philadelphia offers increasingly lucrative growth potential.
As the fifth largest city in the U.S. and less than 2 hours drive from NYC Philadelphia is offering a second to none value. The City's beautiful architecture, parks, restaurants and nightlife coupled with increased infrastructure investment have seamlessly integrated it with the rest of the city providing the ease and quality of life discerning buyers demand.
Historically, real estate appreciation in Philly has been positive. From Q1 2000 to Q1 2018, Philadelphia investment property has appreciated a total of 137% with an annual average of 4.72%.
the value of property is forecast to rise 14.8% by the end of 2019
Philadelphia’s housing sector is performing extremely well. Median home prices continue to rise, increasing by as much as 12 percent year-over-year. Inventory of available units dropped by about 22 percent based on June 2018 to 2017 numbers. Analysts estimate that the Philadelphia market had a 2.8 months supply of houses for sale, which was a clear indicator of additional pressure on home prices going forward. A balanced housing market would have a six-month supply of available houses in general. The DOM or days-on-the-market dropped below 40 days, which has not happened since 2005. In Philadelphia, DOM was 38 days in the third quarter of 2018.
